06.47 In The Independent today, several financial experts offer their views on the future of the euro, with worrying results:
Danny Blanchflower, Professor of Economics, Dartmouth College: “The fundamental problem that has not been addressed is that there is no growth plan for Greece."
Nouriel Roubini, Professor of Economics, New York University: “The eurozone is a slow-motion train wreck. Not only Greece, other countries as well are insolvent. There’s a 50pc probability that over the next three to five years the eurozone will break up."
George Soros, currency trader: "We remain in the acute phase of the crisis; the prospect of a meltdown of the global financial system has not been removed. The trouble is that the cuts in government expenditures that Germany wants to impose on other countries will push Europe into a deflationary debt trap."
Alistair Darling, Chancellor of the Exchequer 2007-2010: "I don’t think anyone can realistically say that the eurozone will survive with its present membership and the longer the inaction goes on the greater the chance that one or more countries will be forced out."
Jim O’Neil, Chairman of Goldman Sachs Asset Management: "The reality is that too many countries joined the euro in the first place and ultimately without dramatic change they can’t probably survive."
Ed Balls, Shadow Chancellor: "Far from being over, I fear the eurozone crisis is this year entering a more chronic, drawn out but equally dangerous phase."
Tweet Follow @johnmpoole
The Big Picture
Financial Crisis - The Telegraph
JohnTheCrowd.com | The Sailing Website
Craig Newmark - craigconnects
- ► 2015 (131)
- ► 2014 (368)
- ► 2013 (380)
- How to Remove Your Google and YouTube Search Histo...
- Romney Rolls - "Super Tuesday" Next Week
- To Die like a Doctor: a Graceful Death
- GOP: a Cup of Crazy
- Ed Koch: 'Santorum is nuts'
- Federal money driving up the cost of college for s...
- The Greek Sustainability Report and Reaction & Ana...
- Eurozone: dead end zone?
- Ann Coulter takes Republicans to the woodshed
- Romney's right: Spending cuts, without pro-growth ...
- For Republicans, it's "self-destruct" time
- Greece: a return to the drachma?
- Germany's plan for Greece to leave the euro
- Why even corporate loopholes have to go
- 2012: The election is over - Obama won!
- Vote for Santorum and elect Obama!
- Greek Drama
- Greece: the euro has always been a flawed currency
- Living in an Age of Digital Espionage
- Greece faces death by a thousand cuts
- Privacy: Something Lost, Nothing Gained?
- Greek lawmakers approve austerity bill as Athens b...
- Iowa’s joke on all of us
- Obama's biggest vulnerability is not Obamacare
- Greek Default is not End of the World
- Obama’s greatest vulnerability as a leader
- Romney and Tax Policy: hardly bold enough
- Romney needs to get serious and credible
- Punk Economics: Lesson 1 [video]
- "That’s what people elected you to do"
- Caveat Romney: Obama Campaign on Lookout
- Romney Country
- Nevada: different state, same issues, same winner
- More on the Obama "Fudge" Jobs Report
- The "Obama Fudge Jobs Report"
- January jobs report--"Washington Fudge"
- Why the Early U.S. Didn't Go the Way of the Eurozone
- Eurozone: Reality Check
- Florida picks a winner: Mitt Romney
- ▼ February (39)